Ally Financial’s (ALLY) Equal Weight Rating Reiterated at Morgan Stanley

Morgan Stanley restated their equal weight rating on shares of Ally Financial (NYSE:ALLY) in a research note published on Thursday, Marketbeat Ratings reports. The firm currently has a $28.00 price target on the financial services provider’s stock, up from their prior price target of $26.00.

Other equities analysts have also recently issued reports about the stock. BMO Capital Markets restated a buy rating and set a $26.00 price objective on shares of Ally Financial in a research report on Friday, August 25th. Zacks Investment Research upgraded shares of Ally Financial from a hold rating to a buy rating and set a $26.00 price objective for the company in a research report on Tuesday, September 26th. Citigroup began coverage on shares of Ally Financial in a research report on Monday, October 16th. They set a buy rating and a $30.00 price objective for the company. Piper Jaffray Companies reiterated a buy rating on shares of Ally Financial in a research report on Wednesday, October 4th. Finally, BidaskClub upgraded shares of Ally Financial from a buy rating to a strong-buy rating in a research report on Thursday, September 28th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus target price of $27.27.

Ally Financial (ALLY) traded up $0.39 during trading hours on Thursday, reaching $27.25. 4,300,000 shares of the company’s stock were exchanged, compared to its average volume of 2,719,829. The company has a debt-to-equity ratio of 3.32, a current ratio of 1.21 and a quick ratio of 1.21. The firm has a market capitalization of $12,049.57, a PE ratio of 12.11, a PEG ratio of 2.40 and a beta of 1.46. Ally Financial has a 52 week low of $18.11 and a 52 week high of $27.42.

Ally Financial (NYSE:ALLY) last posted its quarterly earnings data on Wednesday, October 25th. The financial services provider reported $0.65 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.57 by $0.08. The company had revenue of $1.46 billion during the quarter, compared to analysts’ expectations of $1.46 billion. Ally Financial had a net margin of 14.75% and a return on equity of 7.72%. During the same period in the prior year, the business posted $0.56 earnings per share. equities research analysts predict that Ally Financial will post 2.27 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 15th. Stockholders of record on Wednesday, November 1st were given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.76%. The ex-dividend date of this dividend was Tuesday, October 31st. Ally Financial’s dividend payout ratio (DPR) is 22.22%.

Several hedge funds and other institutional investors have recently modified their holdings of ALLY. Franklin Resources Inc. grew its holdings in shares of Ally Financial by 1.1% in the second quarter. Franklin Resources Inc. now owns 19,424,589 shares of the financial services provider’s stock valued at $405,975,000 after purchasing an additional 209,001 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of Ally Financial by 7.2% in the third quarter. JPMorgan Chase & Co. now owns 18,536,031 shares of the financial services provider’s stock valued at $442,825,000 after purchasing an additional 1,251,678 shares during the period. Canada Pension Plan Investment Board grew its holdings in shares of Ally Financial by 36.6% in the second quarter. Canada Pension Plan Investment Board now owns 9,244,175 shares of the financial services provider’s stock valued at $193,203,000 after purchasing an additional 2,476,190 shares during the period. Bank of New York Mellon Corp grew its holdings in shares of Ally Financial by 1.3% in the third quarter. Bank of New York Mellon Corp now owns 8,683,736 shares of the financial services provider’s stock valued at $210,668,000 after purchasing an additional 114,270 shares during the period. Finally, Wedge Capital Management L L P NC grew its holdings in shares of Ally Financial by 4.5% in the second quarter. Wedge Capital Management L L P NC now owns 7,536,055 shares of the financial services provider’s stock valued at $157,504,000 after purchasing an additional 326,850 shares during the period.

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Ally Financial Company Profile

Ally Financial Inc is a digital financial services company. The Company is a bank and financial holding company. Its segments include Automotive Finance operations, Insurance operations, Mortgage Finance operations, Corporate Finance operations, and Corporate and Other. The Automotive Finance operations segment provides the United States-based automotive financing services to consumers and automotive dealers, and automotive and equipment financing services to companies and municipalities.

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